Powers of Attorney
Authorising someone else to action financial and property decisions.
A Power of Attorney is when you authorise a person – the ‘attorney’ - to act on your behalf in relation to your finances and property.
Power of Attorney is often used for commercial or transactional purposes, such as the sale or purchase of a property. If you cannot be present, your nominated attorney can sign the necessary documents, to ensure the deal goes through.
A company can also appoint a Power of Attorney, which ensures business operations can continue if, for example, one of the key people needed to sign documents is unavailable.
Powers of Attorney only apply when you are living and of legal sound mind. If you lose mental capacity, it can only be applied if you have a Power of Attorney that is enduring, which means your attorney can continue to act on your behalf, making sure that things like your bills and medical costs are paid.
Why Betar Lawyers?
Betar Lawyers has the expertise to prepare your Power of Attorney on an individual basis, as part of your estate plan or as a corporation.
Advise which type of Power of Attorney – general or enduring – is best for you and your circumstances
Explain your attorney options and help you choose your Power of Attorney
Provide you with all the information you need to make the right decision
Ensure all the legal formalities to make your Power of Attorney valid are fulfilled, including witnessing, certification and acceptance by your nominated attorney
Arrange corporate or company Power of Attorney where applicable, which clearly outlines the attorney’s responsibilities, limits and scope of power within the business.
Who can be your attorney?
Your attorney must be someone who:
Is an adult over the age of 18
Is someone you trust
Is competent enough to make decisions and seek expert advice where necessary
Respects your wishes
Is likely to be in the locality
Is healthy enough to carry out the requirements
It is possible to choose a relative to be your attorney, such as your partner.
It is also possible to appoint more than one attorney to act. They may act jointly or severally. Jointly means the attorneys must agree on all decisions. Severally means they can act separately.
Appointing Betar Lawyers as your attorney
If your financial affairs are complex, you can elect Betar Lawyers as your attorney, with the reassurance that:
We will act in your best interests at all times
We will act honestly and protect your assets
We will prepare and keep records of all dealings and transactions
We will not renounce a power during any period of your legal incapacity, except in limited circumstances.
Power of Attorney fees
We will give you a detailed fee estimate upfront, with full disclosure of all the associated costs and expenses, so you know what you are paying in advance to arrange Power of Attorney. All our work is backed by our Value Guarantee, our promise of exceptional service.
Appoint your attorney with Betar Lawyers
Contact us to discuss your Powers of Attorney requirements on +61 (0)2 9279 1100 or book a consultation below.